Funding you earn now, next payment 04:00 UTC+0.0123%/8h= +13.4% APRpaid last 24h +0.003%
Price spread now: Phoenix against Binance−0.182%85s7-day average −0.051% · you buy dearer than you sell
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$540.535% of the position
Funding, last 7 days+0.184%+$18 on $10k
+Price spread, last 4 days (all we have)−0.360%−$36 · spread now −0.182%, 7d avg −0.051%
=Funding pays, the price is against you. Phoenix is 0.131% cheaper against Binance than usual: you would sell low and buy high (spread −0.182% now, against its 7-day average of −0.051%). If the spread goes back, that is −$13 on $10k: about 3.6 days of funding at the current rate (+$4 a day). The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance ARMUSDT | 324.04 | 0 | get 0.0000% / 8h | 3h 47m | $8.4M | $50.4M | 20x |
| Short | Phoenix ARM | 323.45 | 0.0123 | get 0.0015% / 1h | 47m 58s | $5K | $446K | 10x |
Binance ARMUSDT
Phoenix ARMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $25.76
- Price spread: −0.182% → −0.051%
- −$13.14
- Slippage, 4 orders
- −$36.54
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$40.92
- Costs to cover
- 0.535%
- Break-even
- 18.1 days
Slippage from Binance: live order book, 9 min ago; Phoenix: live order book, 4 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Binance live order book, 9 min ago | 0.31 bp | 8.5 bp −$8 | 28.0 bp −$280 | 99.9 bp −$9,988 | doesn't fit |
| Sell Phoenix live order book, 4 min ago | 6.47 bp | 18.8 bp −$19 | 40.7 bp −$407 | doesn't fit | doesn't fit |
ARM on 24 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster ARMUSDT | 0.0000% | 8h | 323.66 | −0.116% | $7K | $126K | 20x | as long as short |
| Extended ARM-USD | 0.0000% | 1h | 323.96 | −0.024% | $40K | $271K | 10x | as long as short |
| Binance ARMUSDTlong | 0.0000% | 8h | 324.04 | long leg | $8.4M | $50.4M | 20x | |
| Bybit ARMUSDT | 0.0000% | 8h | 324.02 | −0.006% | $1.9M | $2.2M | 25x | as long as short |
| OKX ARM-USDT-SWAP | 0.0000% | 8h | 324.13 | +0.028% | $1.6M | $6.7M | 20x | as long as short |
| Bitget ARMUSDT | 0.0000% | 8h | 323.76 | −0.086% | $1.8M | $3.9M | 20x | as long as short |
| Variational Omni ARM | 0.0000% | 8h | 324.13 | +0.029% | $211K | $295K | — | as long as short |
| GRVT ARM_USDT_Perp | 0.0000% | 8h | 324.88 | +0.258% | $575 | $207K | 10x | as long as short |
| SunX ARM-USDT | 0.0000% | 8h | 323.67 | −0.114% | $1K | $2.7M | 10x | as long as short |
| HTX ARM-USDT | 0.0000% | 8h | 323.39 | −0.201% | $18K | $16K | 20x | as long as short |
Aster ARMUSDT
Extended ARM-USD
Bybit ARMUSDT
OKX ARM-USDT-SWAP
Bitget ARMUSDT
Variational Omni ARM
GRVT ARM_USDT_Perp
SunX ARM-USDT
HTX ARM-USDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ARM_USDT | +0.0007% | 8h | 323.75 | −0.089% | $1.5M | $4.3M | 50x | as long as short |
| QFEX ARM-USD | +0.0014% | 1h | 323.24 | −0.247% | $1.1M | $3.8M | 10x | as long as short |
| BloFin ARM-USDT | +0.0020% | 8h | 323.12 | −0.284% | $126K | $49K | 20x | as long as short |
| Lighter ARM | +0.0032% | 1h | 323.24 | −0.247% | — | — | 10x | as long as short |
| Vest ARM-USD-PERP | +0.0046% | 1h | 323.48 | −0.173% | — | — | 10x | as long as short |
| Polymarket Perps ARM-USD | +0.0050% | 1h | 323.38 | −0.204% | $374K | $1.3M | 10x | as long as short |
| Ondo Perps ARM-USD.P | +0.0050% | 1h | 323.10 | −0.290% | $190K | $412K | 10x | as long as short |
| tradeXYZ xyz:ARM | +0.0053% | 1h | 323.67 | −0.114% | $8.1M | $8.8M | 10x | as long as short |
| Phoenix ARMshort | +0.0123% | 1h | 323.45 | −0.182% | $5K | $446K | 10x | |
| edgeX ARMUSDC | +0.0123% | 4h | 324.88 | +0.261% | $34K | $349K | 10x | as long as short |
| Coinbase International ARM-PERP-INTX | +0.0128% | 1h | 324.44 | +0.123% | $95K | $306K | 10x | as long as short |
| Injective ARM/USDC PERP | +0.0220% | 1h | 330.24 | +1.913% | $5K | $50K | 12x | as long as short |
| KuCoin ARMUSDTM | +0.0234% | 8h | 323.39 | −0.201% | $2.3M | $119K | 20x | as long as short |
| Deribit ARM_USDC-PERPETUAL | +0.1081% | 1h | 323.45 | −0.182% | $12K | $59K | 10x | as long as short |
Gate ARM_USDT
QFEX ARM-USD
BloFin ARM-USDT
Lighter ARM
Vest ARM-USD-PERP
Polymarket Perps ARM-USD
Ondo Perps ARM-USD.P
tradeXYZ xyz:ARM
edgeX ARMUSDC
Coinbase International ARM-PERP-INTX
Injective ARM/USDC PERP
KuCoin ARMUSDTM
Deribit ARM_USDC-PERPETUAL